Mexican steel service center Grupo Collado said net profit in Q3 plummeted 93 percent, year-on-year, to MXN 2.62 million ($136,820). Net revenues in Q3 reached MXN 2.06 billion ($107.2 million), 17.3 percent down, year-on-year.
Grupo Collado said gross profit in Q3 was MXN 413.1 million ($21.4 million), 6.5 percent down, year-on-year. The company saw its gross margin rise to 20 percent in Q3 this year, from 17.7 percent in the same quarter of the year prior.
USD = MXN 19.21 (November 5)